12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 1 (Accounts from Incomplete Records)

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ICOM Part 2 English Medium Principles of Accounting Chapter 1 MCQ's Test

Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test

Try the Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test.

  • Total Questions15

  • Time Allowed20

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Principles of Accounting Icom Part 2 English Medium Chapter 1 Online Test

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Question # 1

We cannot prepare the trial balance and precise balance sheet under,

Question # 2

In single entry it is not possible to prepare

Question # 3

How many methods are available to calculate the profit or loss under single entry system,

Question # 4

In increased net worth method, profit or loss is calculated by preparing,

Question # 5

The fingure of bills payable is worked out by preparing the.

Question # 6

According to companies ordinance, single entry system cannot be adopted by,

Question # 7

Both aspects of a transaction must be recorded in,

Question # 8

North worth of an organizaton means the excess of its total assets over total.

Question # 9

Bills payable issued durint the period must be debited to total creditors account credited to.

Question # 10

Double entry system means

Question # 11

Net worth is equal to,

Question # 12

In case of dissolution, assets sold for cash are debited to.

Question # 13

Teh single entry system of book keeping is generay followed by

Question # 14

A statement of assets and liabilities is prepared under the single entery system is called.

Question # 15

The figure of the credit purchase can be worked out.

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